Traders Flee to Gold, Ditch Oil

Amid heightened uncertainty about trade and economies, gold prices have hit multiple record highs this year, while oil prices have slipped to four-year lows as concerns about global oil demand spiked with all the trade and tariff chaos. Gold hit another record high on Monday as the U.S.-China trade war escalated and the U.S. dollar weakened amid persistent fears of a recession. Gold, the safe-haven asset, has benefited from the market chaos, while riskier commodity assets, such as crude oil, have suffered amid deteriorating oil demand outlooks.…Weiter zum vollständigen Artikel bei OilPrice.com Weiter zum vollständigen Artikel bei OilPrice.com